Robert W. Baird Forecasts Strong Price Appreciation for Kite Realty Group Trust (NYSE:KRG) Stock

Kite Realty Group Trust (NYSE:KRG) had its price target increased by Robert W. Baird from $26.00 to $29.00 in a research report sent to investors on Friday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the real estate investment trust’s stock.

KRG has been the subject of a number of other reports. KeyCorp raised their price objective on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Piper Sandler increased their price objective on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Raymond James upgraded shares of Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price for the company in a research note on Friday, August 16th. Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $23.00 to $26.00 in a research note on Wednesday, August 28th. Finally, Compass Point lifted their price objective on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Kite Realty Group Trust has an average rating of “Moderate Buy” and a consensus target price of $28.86.

Kite Realty Group Trust Price Performance

Kite Realty Group Trust stock opened at $26.92 on Friday. The business has a fifty day moving average of $26.31 and a two-hundred day moving average of $24.19. The company has a market cap of $5.91 billion, a P/E ratio of -667.25, a price-to-earnings-growth ratio of 4.07 and a beta of 1.29. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.08 and a current ratio of 3.08. Kite Realty Group Trust has a one year low of $19.64 and a one year high of $27.94.

Kite Realty Group Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, January 9th. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 4.01%. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently -2,600.00%.

Insider Activity

In other news, Director Steven P. Grimes sold 37,295 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $26.80, for a total transaction of $999,506.00. Following the transaction, the director now owns 732,252 shares in the company, valued at $19,624,353.60. This represents a 4.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of Kite Realty Group Trust

A number of institutional investors and hedge funds have recently made changes to their positions in KRG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Kite Realty Group Trust by 432.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,361,062 shares of the real estate investment trust’s stock worth $36,150,000 after purchasing an additional 1,105,539 shares during the last quarter. Land & Buildings Investment Management LLC bought a new position in Kite Realty Group Trust in the 2nd quarter worth approximately $22,277,000. Vanguard Group Inc. lifted its stake in shares of Kite Realty Group Trust by 2.7% during the first quarter. Vanguard Group Inc. now owns 33,597,373 shares of the real estate investment trust’s stock valued at $728,391,000 after acquiring an additional 881,502 shares during the period. APG Asset Management US Inc. acquired a new stake in shares of Kite Realty Group Trust during the 2nd quarter worth approximately $16,665,000. Finally, F M Investments LLC acquired a new position in shares of Kite Realty Group Trust in the 2nd quarter valued at $10,164,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Kite Realty Group Trust Company Profile

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust (REIT) headquartered in Indianapolis, IN that is one of the largest publicly traded owners and operators of open-air shopping centers and mixed-use assets. The Company’s primarily grocery-anchored portfolio is located in high-growth Sun Belt and select strategic gateway markets.